New figures show a significant hike in the number of winding up petitions issued by HMRC. Alternative finance is vital to helping SMEs avoid falling into this abyss.

According to new data from HMRC, the number of winding up petitions it issued in 2015 rose by 13%, with 3,074 businesses threatened with closure because of unpaid tax bills. The hike underlines the problems faced by companies, especially small businesses, in terms of managing cash flow. Plans to slash corporation tax may alleviate some of the pressure, but there are plenty of other demands on working capital.

Aside from tax bills, small business owners are also contending with the costs of auto-enrolment, cybersecurity and the National Living Wage. In an uncertain post-Brexit economic environment, these costs are squeezing SMEs hard.

So how can SMEs survive and thrive? Alternative finance is part of the answer. Small businesses that are under pressure in terms of cashflow management can turn to services such as invoice finance and asset finance to help them pay bills and maintain forward momentum. Start-ups and small businesses can also access funding through peer-to-peer lending and crowdfunding.

With traditional lenders unlikely to drop their cautious approach to small business lending in the post-Brexit marketplace, it has never been so important for SMEs to fully explore all the funding opportunities available to them, including alternative finance.

Small business owners have a responsibility to show initiative in terms of identifying appropriate funding services, but at the same time, the government has a duty to raise awareness of the full range of options. By doing so, a further rise in winding up petitions can be avoided and the SME sector can grow.

At A&T we ensure that we keep working with you as your business progresses and its needs change. We review annually all funding that we arrange to ensure that it is still required and is still the most effective solution for your business. This service is not offered by most ...
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A&T Business Associates is a Commercial Financial Broker and Business Consultancy offering financial advice and assistance to small and medium-sized businesses.
We are fully independent and enjoy a good working relationship with the High Street lenders as well as a wide variety of specialist providers.
We carry out a full financial review ...
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We are a customer-orientated, privately-owned, fully independent company. We work closely with all of our clients and tailor our services to their individual needs.
Commercial Financial Brokerage
We employ a three step process:

We work with you to understand your funding requirements and then recommend the best solution for your business.